Adani Wilmar IPO
The Adani Wilmar IPO (Initial Public Offering) will open for
subscription on January 27th, 2022, and will stay open for bidding until
January 31st, 2022. The public offering's price band has been set at 218 to 230
per equity share, with the business aiming to raise 3600 crore through this
book-built issuing. Both the NSE and the BSE will list Adani Wilmar shares.
According to market analysts, Adani Wilmar's stock is now selling at a premium
of 65 in the grey market.
The proceeds of the issue, totaling Rs 1,900 crore, would be
utilized for capital expenditure, Rs 1,058.90 crore for debt reduction, and Rs
450 crore for merger and acquisition and investments.
The issue's lead managers include Kotak Mahindra Capital, JP
Morgan India, BofA Securities India, Credit Suisse Securities India, ICICI
Securities, HDFC Bank, and BNP Paribas.
The company recorded a consolidated total income of Rs
24,957.29 crore for the quarter ending September 2021, up from Rs 16,273,73
crore the previous year. The net profit for the period was Rs 357.13 crore, up
from Rs 288.79 crore the previous year. The firm's total outstanding borrowings
(on a consolidated basis) were Rs 9,191.55 crore as of September 2021.
Fortune's edible oil has an 18.3 percent market share in
March 2021, making it India's No. 1 edible oil brand. The flagship brand is the
most popular edible oil brand in India. Since 2013, the company has used
its branding and distribution network to sell a variety of packaged items,
including wheat flour, rice, pulses, besan, sugar, soya chunks, and
ready-to-cook khichdi.
The firm has 22 plants in India, with 10 crushing units and
19 refineries strategically positioned throughout ten states. Ten of the 19
refineries are port-based, allowing for the use of imported crude edible oil
and lowering transportation costs, while the remaining refineries are mostly in
the hinterland, near raw material production bases, lowering storage costs.
With a planned capacity of 5,000 MT per day, its refinery at Mundra is one of
India's largest single-location refineries.
Furthermore, as of September 30, 2021, it has 36 tolling
plants across India to meet increased demand and assure its presence in various
regions of the nation, manufacturing mustard oil, rice bran oil, wheat flour,
rice, pulses, sugar, soya chunks, and khichdi with raw materials it provides.
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